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The event kicked off with an emphasis on
the role finance can play as a change agent, helping to direct capital to
climate projects, and ultimately questioning how finance can address the huge
challenges faced by climate change.

Leadership for innovation

Speakers highlighted the role of
leadership, calling for high level leadership across the entire innovation
chain, helping to create better conditions for an entrepreneurial ecosystem to
thrive. Development banks were also credited
for their leadership role in scaling up green finance within capital markets,
having been one of the first issuer types to come to the green bond market back
in 2007.

Reporting – specifically the merits of
self-reporting – were debated amongst one panel. The role of big data,
transparency and consistency of definitions were also contested with
interactive audience polling.

The strategic imperative and behavioural forces

Centralising Environmental, Social and
Corporate Governance (ESG) issues rather than annexing them outside the core
strategy was a central theme of the conference, with panellists emphasising the
need for a mind-set shift inside the financial industry. Within the investor
panels, speakers also referenced the UN Sustainable Development Goals as a
valuable way to frame sustainability strategy, as they enable forward looking
thinking that focuses on future value creation to solve key challenges facing
both society and the planet. The ultimate conclusion was that investors must
recognise that sustainability is an imperative, and not an option. Psychology
is also fundamental to this, and speakers highlighted that framing sustainability
in fear is ineffective and instead the discussion for integration must focus on
the opportunities gained.

A systems based approach and embracing digital

The 'shifting the trillions' financing
panel featured BNP Paribas' Strategic advisor for Sustainable Business, Pierre
Rousseau, who emphasized that a systems approach to sustainability helps to
shift from product aligned thinking to a solutions based mindset, and is key
driver for banking to be a mobilising force in addressing sustainability
challenges such as climate change. This systems-based approach is also central
to the circular economy – i.e one centred on a closed loop in which resources
can be repurposed to keep creating value – and Pierre argued that "the circular
economy is the economy of tomorrow". BNP Paribas' Global Head of Energy
Transition and Environment, Sebastien Soleille, was also a speaker on scaling
up infrastructure, and highlighted the role digital will play in addressing
data issues, including helping to develop metrics and tools that accelerate
investment and financing towards the
energy transition.

Bio-digital innovations were also showcased
at Climate KIC's conference, through architectural and urban design firm
ecoLogicStudio's 'Photo.Synth.Etica' instillation. The algae biomass technology captures atmospheric
carbon dioxide and stores it in real-time, equating to around 20 large trees.